The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1887-06-29
over THE WIRES.
Some Important Happenings
Told by the Telegraph.
a Panic and Heavy Failures in the
New York Coffee Trade.

The New York Coffee Exchange came near
having Black Monday on the 18th. Three
firms suspended and many others barely es-
capped ruin by the timely aid of several houses
who determined to avert a general crash.
The amount involved in the three failures
is at least 100000. That represents
only a small part of the days. losses,
for speculation in coffee had lately brought
into the market many general traders of the
kind who always watch for active dealings in
which to turn their money. No place in the
vicinity of Wall street offered such tempta-
tions of this nature for the past few months
as the Coffee Exchange 1t was the common
belief that a break must come, but as usual
every speculator had faith In his own ability
to get out.
The trouble began shortly after noon, when
prices began to slip downward, and all sorts
of ominous reports affecting the strength
of the financial backbone of the Bra
lillian coterie of bulls crept into the
Exchange, and were reflected in the
hungry demands for additional margins
learned that the firm couldn't stand the pres
sure many minutes, and their suspension was
quickly. followed by that of two other firms.
The Coffee Exchange has small quarters,
and is the infant of the New York downtown
exchanges, but when the suspensions were an
nounced the brokers roared with an intensity
that even the Stock Exchange might have
envied.
Hundreds of cargoes Of coffee, representing
millions Of pounds, were thrown on the
market and everything appeared to be on the
down grade, when above the laundering
racket was heard the voice of Joseph j.
O'Donohue, the New York coffee king, Offer
ing to buy coffee.
The stampeded brokers heard the voice, and
it gave them assurance. They promptly
pumped at Mr.. OrDonohue 81, 600 bags at
Mr.. w. b. Crossman rushed in and stood
back to back with Mr.. O'Donohue the brokers
became calmer and sent up a mighty cheer
for the two men whose courage had ended
panic that would have wrecked more firms.
From that time until the last gong prices
were turned on the up track, and the final
prices showed considerable recovery from
the lowest figures of the day.
A Girl Students Fatal Fall.
Miss Mary B.. Hill, daughter of N, b.
Hill, of jamestown, N. Y, a student
in the Freshmen Glass at Cornell Uni
versity, met with a fatal accident
few days since. She was returning from
church at noon along the Cascadilla
Gorge, and at very narrow place in the
path turned to speak to some ons behind her,
when the earth beneath her gave way and
she fell down the slope to the bottom Of the
gorge, distance of about sixty feet AS
sistance was Immediately procured and
she was taken to her room, in the
Sage College building. She could walk
with assistance from the carriage to her
room, and did not complain of serious pain.
After an examination the physicians gave
it as their opinion that Miss Hill
would very soon recover, the apparent t
and a cut upon her knee. In the even
ing, however, serious collapse occurred,
supposed to be caused by Internal hemor-
rhage, and the patient continued to sink until
o'clock in the morning, when she passed
away without having given evidence Of great
suffering,